Financial Results : SADAFCO net profit rises 42% to SAR 54.3 mln in Q1 2022/23

SADAFCO net profit rises 42% to SAR 54.3 mln in Q1 2022/23

21/08/2022 Argaam Exclusive

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Saudia Dairy & Foodstuff Co. (SADAFCO) reported a net profit after Zakat and tax of SAR 54.3 million for the three-month period ended June 30, 2022, a rise of 42% from a net profit of SAR 38 million in the year-earlier period.

The rise in profit came as sales grew 28% year-on-year (YoY) and gross margins widened to 32% versus 30% in Q1 2021/22.

 

The company also noted a decline in selling and distribution expenses, along with lower general and administrative expenses.

 

Meanwhile, finance cost increased by SAR 26.3 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 492.40 631.33 28.2 %
Gross Income 150.47 202.21 34.4 %
Operating Income 43.78 89.38 104.1 %
Net Income 38.15 54.33 42.4 %
Average Shares 32.50 32.50 -
EPS (Riyals) 1.17 1.67 42.4 %

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